Buying a home may be the biggest purchase you make during your lifetime. Therefore, it is wise to ensure that the home you purchase is in the best condition possible so you know you are receiving fair value for your money.

There are many factors that affect the condition of a home. These include basic design, age, weather, regular maintenance, environment and a multiple of other things. Unless an in-depth inspection is done by a professional inspector, hidden conditions may not be detected.

An inspection is an objective visual evaluation of the physical structure and accessible systems of a home. A home inspection is not an appraisal. It's your opportunity to find out what needs to be replaced or repaired and get a realistic idea of what these improvements will cost. There are several types of inspections, the most common being structural and pest control.

A structural inspection should include evaluations of foundations, doors and windows, roof, plumbing and electrical systems, heating and air conditioning systems, ceilings, walls, and floors, insulation, and ventilation. A pest control inspection checks for termites, fungus and other wood destroying organisms. Note that not all structural inspections include a pest control inspection, nor are all inspectors certified in pest control. Be sure to inquire about this when getting quotes.

Although sellers are required by state law to disclose information about the home, buyers normally order and pay for a home inspection. A typical inspection will generally cost between $200-$1,000, depending on the size, type and age of a home. A realistic estimate of unseen repairs could be well worth the home inspection price if you find costly repairs. It's an excellent idea to include a contingency clause in your contract that you first have a good report from a home inspector. It can be your way out of a purchase agreement and may be a tool to get the seller to pay for necessary repairs. The best clauses are written to include some objective standard, such as no immediate repairs are needed, or that necessary repairs can’t exceed a set cost, such as $1,000. Remember, a contract based on a misleading promise is NOT enforceable. An inspection contingency with no objective standards of fulfillment could make the entire contract unenforceable.

Other conditions that should be established in an inspection include when and how the buyer must give a time limit for re-inspection by the buyer if the seller performs required repairs, the seller’s option to either perform repairs or terminate the contract and refunding the buyer’s earnest money.

The inspector you use should be licensed and have proper insurance. Most inspectors belong to one of several home inspection associations. The American Society of Home Inspectors (www.ashi.com) and the National Association of Home Inspectors (www.nahi.org) are two of the most prominent. Realty1 Advantage recommends checking out these and other web sites to find out details of the services, especially those that are NOT included in a standard inspection, and to locate an inspector in your vicinity. Go with the inspector and expect to spend between two and four hours going over the home.

No one wants any ‘surprises’ after the deal has closed, so getting a home inspection prior to finalizing a purchase is a very good idea. In fact, some lenders require one prior to funding.